Week Ahead Market Report: 8/9/2010
Monday, August 9, 11:42 AM ET

Launch related slideshow:
This Week's Top Ranked Dividend Stocks »

Good morning, I’m Kristin Bianco, with the “Week Ahead Market Report” for August 9, 2010.

Most markets rallied around the world today. Hong Kong’s Hang Seng index jumped higher by 0.6 percent. Japan’s Nikkei 225 dropped 0.7 percent and China’s Shanghai Shenzen rose 0.7 percent.

European shares are moving lower this morning, with the German DAX jumping 1.4 percent. Britain’s Footsie 100 surged 1.5 percent in mid-day trading.

U.S. S&P 500 index futures were gaining ground, moving up by 0.5 percent in pre-market action.

Crude oil is up almost 1 percent on Monday morning, trading around $81.50 a barrel.

Spot gold was flat in early Monday morning trading, hovering around $1,205 an ounce.

On the economic front, members of the Federal Reserve’s Open Market Committee will gather on Tuesday. Observers expect the Fed to provide clues on ways they might boost economic growth.

On Thursday, initial jobless claims will be released with expectations for 460,000 new unemployment claims for the week of August 7th. Economists will be watching this week’s number carefully after the Labor Department reported higher than expected jobless claims last week.

The consumer price index for July will be released on Friday with expectations of a 0.2 percent change. It would be the first month of positive growth after several months of negative price index growth.

Retail sales will also be released on Friday, with expectations of a 0.5 percent gain for July. This would be good news, following negative retail sales growth for May and June.

On the earnings front, theme park giant Walt Disney (NYSE:DIS) will post profits after the market closes on Tuesday, with analysts expecting 59 cents per share.

Jaguar Mining (NYSE:JAG) will also report second quarter profits on Tuesday after the market closes, with a consensus estimate of 6 cents per share.

Cisco Systems (NASDAQ:CSCO) will report results on Wednesday after the market closes. Analysts are expecting 42 cents per share in earnings.

Also on Wednesday, mining giant BHP Billiton (NYSE:BHP) will report profits, with a consensus estimate of $1.48 earnings per share.

Department store Macy’s (NYSE:M) will report before the market opens on Wednesday as well, with analysts expecting 28 cents earnings per share.

Kohl’s (NYSE:KSS) will report earnings on Thursday before the market opens with expectations of 81 cents per share.

Also on Thursday, Nordstrom (JWN) will report second quarter earnings after the market closes. Analysts are expecting 66 cents per share.

Chinese silver miner Silvercorp Metals (NYSE:SVM) will report earnings on Thursday after the market closes, with expectations of 8 cents per share.

On Friday, retailer JC Penney (NYSE:JCP) will report earnings before the market open. The consensus number is 6 cents per share.

Join us on Friday for the “Weekly Market Wrap” and have a wonderful week.